If you qualify for an exception, but your IRA custodian inputs Code 1 in Box 7 of your 1099-R, your tax preparer must file IRS Form 5329 to override the Code 1 and claim the exception.

The 1099-R form is packed with crucial information. The total distribution amount is shown in Box 1, indicating the total amount of money you received from your retirement plan during the tax year.

Tax Day is approaching, and soon it will be time to begin assembling forms. If you haven't looked at them yet, all those numbers and letters – W-2, W-9, 1099 – can easily overwhelm you. Some ...

When one of these exceptions applies, your IRA custodian is required to indicate the exception by entering the appropriate exception-qualifying code in Box 7 Distribution code (s) of your 1099-R.